Zions Bancorporation N.A. Sells 34 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Zions Bancorporation N.A. reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 438 shares of the semiconductor company’s stock after selling 34 shares during the quarter. Zions Bancorporation N.A.’s holdings in Synopsys were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SNPS. ORG Partners LLC increased its holdings in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the period. Pacifica Partners Inc. acquired a new position in shares of Synopsys during the 3rd quarter worth $25,000. Tsfg LLC lifted its holdings in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Chris Bulman Inc acquired a new stake in Synopsys in the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNPS. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler decreased their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $649.82.

Synopsys Stock Down 5.0 %

Shares of Synopsys stock opened at $520.75 on Friday. The company’s fifty day simple moving average is $513.01 and its two-hundred day simple moving average is $545.41. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market cap of $79.99 billion, a PE ratio of 54.02, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $2.17 EPS. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.